Adairs beats prospectus forecasts

Company News

by Lee Brooks

Adairs Limited (ASX:ADH) says strong sales growth has helped it outperform market guidance and beat its prospectus forecast.

Gross profit was up 15.5 per cent to $151 million on the back of 12 per cent like-for-like sales growth.

Two new store formats including a mini-homemaker store in shopping centres have proved successful and will continue in store roll-out strategy over the medium term.

Adairs says the like-for-like sales growth continues into the 2017 financial year and it expects to continue improving its financial results.